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Curanex Pharmaceuticals Inc. (CURX) priced its initial public offering of 3.75 million shares at $4.00 per share, generating gross proceeds of $15 million before underwriting discounts and expenses, according to a company statement.
The developmental stage pharmaceutical company’s shares began trading on the Nasdaq Capital Market on August 26, 2025. The offering is expected to close on August 27, 2025, subject to customary closing conditions.
Underwriters received an option to purchase up to 562,500 additional shares at the public offering price within 45 days of the offering’s close. The company focuses on developing botanical drugs for inflammatory diseases.
Curanex plans to use proceeds for developing its lead product candidate, Phyto-N, for ulcerative colitis treatment. The funds will support FDA-required toxicology and pharmacokinetic studies, preparation and submission of an Investigational New Drug application, and general corporate purposes.
Phyto-N is a botanical extract that the company states has treated patients with inflammatory diseases in China over 30 years. The company has tested the compound in animal models for six inflammatory conditions, with ulcerative colitis as the primary indication.
Dominari Securities LLC served as lead underwriter, with Pacific Century Securities LLC and Revere Securities LLC as co-underwriters. The SEC declared the company’s registration statement effective on August 12, 2025.
The Jericho, New York-based company operates as a developmental stage pharmaceutical firm dedicated to discovering and developing botanical drugs for inflammatory diseases.